Push Is On to Advise
The Very Wealthy

Competition is heating up among financial institutions eager to offer advice to the very wealthy.

Brokerage firms, including divisions at UBS AG and Merrill Lynch & Co., are setting up specialized offices around the country staffed with elite advisory units to cater to their top tier of clients. Meanwhile, private banks and trust companies, such as Credit Suisse Group's Private Banking USA and Citigroup Inc.'s Citigroup Private Bank, which have long catered to the wealthy, are highlighting their personal service and...